Tron Blockchain to Support AI Projects With $100M Grants

Amid the growing interest in Artificial Intelligence, Tron Blockchain has announced a grant of $100 million to teams utilising artificial intelligence (AI) within their blockchain applications. 

The fund which will be disbursed by Tron Artificial Intelligence Development Fund will be used to support developers researching the use of AI, which attempts to simulate human intelligence in machines.  The fund will however be committed to projects only built on blockchain technology. 

Tron Blockchain has identified e-commerce, currency settlement, data management, market and investment analysis and content generation as key areas to be funded. 

“AI integration in smart contract development will allow for more intelligently and effectively created, deployed and executed smart contracts,” Tron founder Justin Sun tweeted earlier this week.

The buzz around AI has been on the rise with the launch of ChatGPT created by Open AI while Google has also announced its will soon launch its AI-powered chatbot. 

Investors King earlier reported that cryptocurrencies backed by Artificial Intelligence (AI) have been skyrocketing in the last few weeks owing to the momentum surrounding Artificial Intelligence.

A significant number of AI-backed cryptocurrencies are up by more than 100% in the past 30 days. For instance, the Graph (GRT) is up by 122% in the last 30 days while SingularityNET is up by 416%, data from CryptoSlate reveals. 

AI tokens are up an average of over 60% in the past week alone, CryptoSlate data also shows.

Despite the enthusiasm surrounding the AI-backed tokens, some market watchers still remain cautious about the AI tokens hype.

“There is a risk that this whole new trend is going to end up in an empty hype, as there are many speculators that would seek to make use of short-term price pumps,” Financial market consultant Valentina Drofa noted.

What to Know About AI Cryptocurrency 

AI cryptocurrencies are tokens that power AI blockchain platforms such as The Graph and SingularityNET. Users spend tokens in order to use the platforms and the benefits of their integrated artificial intelligence.